In short, no.
The HPD Open Standard enables a manufacturer to report chemical ingredients in their products. Using a standard method called GreenScreen for Safer Chemicals, the HPD discloses hazards of the listed chemicals. Hazard is defined within the HPD Open Standard as:
Hazard: the inherent capacity of a substance to cause an adverse effect to health or to the environment. “Hazard” is distinct from but related to “risk” and/or “exposure.” Hazard Screening is a first and necessary step in studies of risk and/ or exposure.
By itself, this (hazard) information is useful for consumers who want to eliminate or reduce highly hazardous chemicals when they choose products.
There are other tools that can use the information in the HPD to consider whether people along the supply chain and in the life-cycle of the product will be exposed to those chemicals, and posing what type of risk. Specialists including toxicologists and industrial hygienists are often called on to answer these types of questions.
Manufacturers can report any potential health risk information, as an optional entry on the HPD. To date this type of information is not routinely reported, and risk estimates will vary based on the assumptions selected. Note that sometimes the manufacturer may state that, while the chemical has intrinsic hazards, it does not present a health risk for the user when found in the product. When noting this, usually in the "Substance Notes" of the HPD, manufacturers are required to cite studies or evidence for the claim.
When specific chemicals have been determined to be "safer," than their alternatives based on a methodology recognized by the HPD Open Standard, that may be reported, usually in the "Substance Notes" section of the HPD.